Is a Six-Figure Business Income Good? – CLS031

By Corbin Links

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It’s questions and ACTIONS Friday!

Today’s question comes from Chandra, who writes:

“I hear a lot of people talking about “six figures” this and that in their coaching business. Is that really the goal? Are five-figures good?”

Great one Chandra!

We’ve even used the “multiple six figures” number in some of our marketing. And you’re right, a lot of various businesses use that phrase or number, especially with online marketing, coaching, and business-building.

And like any other metric or indicator (which is really all it is), there are a LOT of different ways of looking at it. For me, the danger becomes using some number as a yardstick to measure yourself against someone else. For example, someone starting at 0 and reaching penny over cost to become profitable, the numbers may look a whole lot different, then to someone who’s been around and struggling for 5 years.

I’ve even seen some recent backlash against using numbers at all; while there are others who wonder what the heck six figures will even DO for you in today’s world (especially those who live in super high-cost areas.) Lots of different perspectives, all over the map.

To me, it’s all metrics. So I’ll tackle your question today by talking:

  • Profitability and unprofitability
  • The ONLY numbers that really matter
  • Setting baselines for your business
  • Metrics
  • And my take on the whole 5, six, 7-figure number thing

Lots to cover so let’s do this!!

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Corbin Links --> Data Security and Enterprise Workflow Automation Specialist, API Integrator, Identity Access Management (IAM / IdM) Consultant and "Other Duties as Required"

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